One thing of interest is that 11 shallow holes totalling 1585m targeting 10 conductor anomalies were previously drilled by Probe on Double Eagle property (based on the timeline included below these could not have been on the smaller Condor property claim portion where the discovery has been made and therefore the assumption would be that these holes were drilled on the claims immediately to the North-East and those to the South-West).

Noront’s claims cover numerous airborne magnetic anomalies. A Geotem electromagnetic survey was initially completed over 11 claims comprised of 165 units in 2004 and revealed a series of significant anomalies. A ground follow-up program of line cutting and magnetometer and horizontal loop surveys was completed to prioritize a diamond-bit drill hole program expected to commence in fall 2005. Another airborne survey was conducted over approximately 13 claims, which are located south west of those claims over which the Geotem electromagnetic and ground surveys were conducted.

On April 27, 2004 Noront entered into an option agreement with Hawk Precious Minerals Inc. (Hawk) granting Hawk the right to earn a 50% interest in the Company’s Double Eagle project. In or around October 2005, Hawk option agreement was cancelled. Noront retained all of the funds paid and shares issued by Hawk without any further recourse by Hawk or its assigns.

In January 2005, Hawk conducted a helicopter-borne aeromagnetic-electromagnetic “VTEM” survey of acreage previously not covered by airborne geophysics. In April 2005, the Company received a Geotech Ltd. report based on 580 kilometers of distance covered. Two main targets were outlined as well as several smaller targets. Zone A, a single conductor, continuous for approximately 1,800 meters and having a strong magnetic signature, is interpreted as a Volcanogenic Massive Sulphur (VMS) type target and Geotech recommended was to confirm and test on the ground. Zone B, composed of three semi-parallel conductors that strike a similar direction as Zone A is interpreted as a flat plate or prism type response with a broad magnetic anomaly, most likely an intrusive feature. These zones, for additional ground exploration follow-up, were on Noront’s list of ten high priority targets. With numerous targets identified, the project was considered diamond drill ready.

In December 2005, Noront agreed to option a 50% interest in the Double Eagle project to Probe Mines Limited (“Probe”) to be earned by Probe spending $2 million on exploration by September 1, 2007 ($750,000 by June 30, 2006) and transferring to Noront 300,000 common shares of Probe upon execution of the agreement and another 200,000 shares on the first anniversary of the agreement.

In February 2006, Noront announced that its JV partner Probe had begun a drill program, and in March, Noront agreed to assign to Probe its agreement with Freewest to option four claims covering 992 hectares in the McFauld’s Lake area (“Freewest JV”). These claims are contiguous with Noront’s Double Eagle JV.

Probe has the right to earn a 60% interest in the Freewest JV (50% by incurring exploration expenditures of $850,000 by November 11, 2007 and issuing 100,000 common shares of Probe to Noront; and 10% by delivering a feasibility study to Freewest).

Probe advised Noront of its winter drill program (ten conductors were tested with 11 holes) totalling 1585m. Three of the holes intersected sulphide mineralization, containing visible chalcopyrite, hosted by felsic volcanic rocks similar to those in the area of Probe Mines’ and Spider Resources’ discoveries. In addition to the volcanic-hosted sulphides, two zones of intense faulting and hydrothermal alteration in ultramafic rocks were delineated and represent the potential for possible gold mineralization in the area. Of the ten conductors tested in the winter drill program, three produced new base metal-bearing sulphide zones all with highly anomalous precious metal contents, including a 0.5m section containing 1.5g/t Au was identified.:

Noront granted Probe an extension to December 31, 2006 for Probe to complete its first year’s exploration budget. Probe recently advised that it does not plan to proceed further with its option arrangement with the Company and has subsequently returned all of its interest in the project.

The Company announced on May 17, 2007 that it had entered into an option agreement with Condor Diamond Corp. and Greenstone Exploration Company Ltd. (Condor/Greenstone) to acquire two claims consisting of 8 units adjoining the Company’s Double Eagle project on the following terms:
Noront agreed to issue 175,000 shares (issued) and complete, during the calendar year 2007, a minimum of one diamond drill hole to test several highly rated airborne geophysical targets established on the claim group and confirmed by ground geophysics after which it will have earned an undivided 50% interest on the claims, and further have the right during the second year of the agreement, to earn the balance 50% upon the issuance of a further 225,000 common shares of the Company. Condor/Greenstone shall retain a 1% net smelter royalty which may be purchased by the Company at any time upon payment of the sum of $500,000 and/or at the Company’s option, issuance of an equivalent number of common shares of the Company.

The Company has budgeted $400,000 for a diamond drill program to be conducted on the newly acquired claims as well as perhaps a follow up program covering the Company’s Double Eagle claims to commence in early September 2007.

On August 28, 2007 the Company announced that it had been advised by its project manager (Billiken Management Services Inc.) of Toronto results of the first two holes of the diamond drilling program started August 24, 2007 on the recently optioned claims of the Company’s Double Eagle project located in James Bay Lowlands, northeastern Ontario...

and the rest is history